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Brazil's Unions and Industry Oppose Higher Interests
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Brazil Industry Criticizes Higher Interests
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Lula Defends Brazil's Central Bank Interest Rates Policy
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Brazil's Central Bank Chief Promises Lower Interests
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Only Lower Brazil Risk Will Bring Interests Down
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Brazil's Central Bank Expected to Raise Interests
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Market Analysts Keep Saying Brazil's GDP Won't Grow Over 3.5%
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Average Interest Rate in Brazil: 29% a Year. In the World: 4%
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It's Been Ten Years Since Banks Had So Much Profit in Brazil
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Interest Rates Still Too High, Brazil Admits
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Rewrite Your Books. Brazil Grew in 2003.
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US Analyst Forecasts Doom for Brazil's Economy
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Brazil's Industries Federation Insists: Interests Must Go Down.
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Fearing Inflation, Brazil Raises Interest Rates to 17.75%
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Brazil's Central Bank to Keep Interest Rates High
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Interest Rate Fears Bring Brazil Market Down
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Lower Interest Rates Won’t Be Enough for Brazil. But It’s a Start.
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Brazilians Pay World's Highest Interest Rates
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Don't Expect Lighter Taxes Soon, Says Brazil
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The U.S. and Exchange Rates Do Not Scare Brazilian Exporters
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Interest Rates Are Hurting Brazil, Says Industries Federation
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A Map to Lower Brazil's Interest Rates from 19.5% to 4%
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Lula Blames Inflation on Brazil's High Interest Rates
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Brazil Boosts Interest Rates for 9th Time in a Row
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Raising Interest Rates Is Not Working in Brazil
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A First in 10 Months: Brazil Leaves Interest Rates Alone
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Brazilian Top Unions Blast Copom for Not Cutting Interest Rates
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Brazilian Industry Wants Urgent Reduction of Interest Rates
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It's Time Brazil Adopts a More Flexible Monetary Policy, says BNDES Chief
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Lula Talks About Cuts in Interest and Market Soars in Brazil
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Lula and Minister Bet Interest Rates in Brazil Will Fall Soon
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Brazil's Industry Leader Calls Interest Rates 'Absurd'
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Brazilian Industry Blames High Interests for Slow Growth
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Good Political and Economic News in Brazil Helps Drag Market Up
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Raising Interest Rates Is Not A Whim, Says Brazil's Finance Minister
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Only Pact with Devil Explains Brazilian Progress, Says Brazil's Vice-President
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Industry Output Drop in Brazil Fuels Hopes Interests Will Fall
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In Brazil, High Interests Are a Rich's Best Friend
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News of Lula's Waning Popularity Depresses Brazil Stocks
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Brazil Lowers Interests to 19.50%. Right Drug, Wrong Dosage, Say Critics
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Brazil's Interest Rates Are Still 6 Times Higher Than the US's
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Brazil Follows U.S. and Gets Back to Black
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Brazil Reduces Benchmark Interest Rate Again. Still 18.5%.
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Hopes of Lower Interest Help Brazilian Stocks
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Brazil to Lower Its Long-Term Interest Rates to 9%
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Brazil Expecting Half-Percentage Cut in Key Interest Rate
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Taxes and High Interests Are the Main Bad Guys in Brazilian Economy
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Key Interest Rate in Brazil Falls 2.5%, But Bank Loan Interests Drop Mere 0.19%
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Brazilian Central Bank's Survey Offers Hint of Falling Interest Rates
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Experts Expecting Lower Interest Rates in Brazil
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Belt-Tightening Won't Be Loosened, Says Brazil's New Finance Minister
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Brazil Experts Betting Key Interest Rate Will Fall 0.75% to 15.75%
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As Expected, Brazil's Key Interest Rate Drops to Still High 15.75%
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Personal Loans at 59% Interest Rate: The Lowest Brazil Has Seen in 12 Years
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Brazil's Key Interest Rate Drops 0.50%. Still High at 15.75%.
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After Another Cut Brazil Still Has Interests 3% Higher than Any Country
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Brazil's Record Low Key Interest Rates Are Still the Planet's Highest
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Fearing Inflation Brazil Gets Ready to Hike Interest Rates
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Brazil's Lula Summons His Cabinet for Summit on Inflation Blues
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Brazil's Assurance: We're Not Bankrupt, We're Part of Solution
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Brazil Is Not Afraid of Inflation and Plans to Further Cut Interest Rates
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Finance Minister Foresees 4% Growth for Brazil in Coming 12 Months
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Finance War: Brazil Wants Banks to Lend More and Charge Less
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For Minister, High Interests and Low Dollar Are Hurting Brazil |
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Written by Mylena Fiori
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Saturday, 10 December 2005 |
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During a breakfast press conference on Thursday, December 8, Brazil's Minister of Development, Industry and Foreign Trade, Luis Fernando Furlan, declared that the drop in GDP growth of 1.2% in the third quarter of this year was not an accident.
According to the Brazilian Minister, the event was "the result of a deliberate effort to clamp down on inflation." Or, in other words, said the Minister, "monetary measures which put a brake on the economy." Asked what has been worse for the Brazilian economy in 2005, the interest rate or the exchange rate, Furlan responded that on one hand it was certainly the high interest rates which inhibited sales domestically, while exporters suffered with the valorization of the real. "We are between a rock and a hard place on the domestic market because of financial costs, while in the export sector we have serious difficulties with profitability because our currency has increased sharply in value against the dollar," declared the Minister. Furlan pointed out that in spite of the problems some sectors, such as vehicles, were doing very well. But others, such as footwear, were facing big problems. Furlan concluded by saying he was optimistic about 2006. ABr
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